obtain prior approval in accordance with Clause 19. In cases where the securities company has submitted the contents of an advertisement to the Office, and the Office does not make an objection within five

this regard the management company shall clearly specify detail of such issue in the mutual fund scheme. Clause 18. To ensure that the investors shall obtain fair treatment within their entitlement, and

shares or rendering a financial support that will later generate the right to acquire shares of such business, and being involved in the supervision of the business plan, the operation or the improvement

any other benefits are appropriate and fair, following the Office’s guideline which will be notified in advance. Clause 7. In case the advertisement contains a statement that is partially copied or

or higher who is responsible for the line of work which takes part in making decisions on securities allotment or the line of work which has an opportunity to obtain inside information relating to an

manager or higher who is responsible for the line of work which takes part in making decisions on securities allotment or the line of work which has an opportunity to obtain inside information relating to

agreements under Clause 1(3)(f) or in the case where the company under Clause 1(3)(e) also invests in other assets, the appraisal shall comply with the following rules: (a) the fair value of the investment

regulations. Clause 5 An approved person for the operation under a regulatory sandbox in the same manner as a derivatives exchange shall arrange an efficient and fair trading system which shall additionally

representative office in the Kingdom shall obtain an approval from the Office. The representative under the first paragraph shall undertake only those businesses specified in the approval. The provisions of

personnel under the first paragraph are required to obtain an approval from the SEC Office before they perform their duties, the intermediary shall govern them to be approved person according to such